Dairy prices up, dollar down

The trade weighted index increased by 3.1% in this morning’s GlobalDairyTrade auction.

GDT Trade Weighted Index Changes

GDT Trade Weighted Index Changes

gdtfeb20

The price of anhydrous milk fat rose by 4%; buttermilk powder was up 4.1%; cheddar increased 1.8%; milk protein concentrate was down .2%; rennet casein was down .8%; skim milk powder was up 1% and the price of whole milk powder increased by 5.8%.

The price of whole milk powder has the most influence on the payout.

Usually when the milk price increases the dollar goes up too but today it has gone down a little after Reserve Bank Governor Graeme Wheeler talked about intervening in the currency market.

 

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